4:03pm: Local shares rose over the past five sessions in spite of a stronger dollar putting pressure on exporters while Australia's largest trading partner China struggles to reform its credit market and re-balance its economy without putting the brakes on growth.

Investor focus has drifted away from the threat to energy and financial market stability caused by ongoing political tensions in Europe following Russia's annexation of Crimea and its subsequent expulsion from the G8.

The benchmark S&P/ASX 200 Index rose 28.8 points, or 0.5 per cent, over the past week to 5366.9, while the broader All Ordinaries Index added 0.4 per cent to 4376.8. On Friday the S&P/ASX 200 Index added 16.8 points, or 0.3 per cent, while the All Ordinaries Index gained 17 points, or 0.3 per cent led by the big four banks.

Gains in the biggest banks and resource stocks combined to lift the bourse over the past five sessions. Westpac Banking Corporation lifted 2.4 per cent to $34.43. Commonwealth Bank of Australia and National Australia Bank each rose 1.9 per cent to $77.14 and $35.32 respectively. ANZ Banking Group added 1.8 per cent to $32.82.

Investment bank Macquarie Group added 5.1 per cent to $57.65 after flagging on Monday that profit for the year ended March 31 could beat previous guidance by 45 per cent.

Resources giant BHP Billiton rose 1.6 per cent to $36.14. Main rival Rio Tinto added 3 per cent to $63.24 despite dipping on Thursday as it was revealed the $US 6 billion Oyu Tolgoi gold and copper project in Mongolia is likely to be delayed for another four months.

"The biggest ASX-listed resource producers are offering better value than they were a month ago due to the concern among international investors about Chinese demand strength," Tyndall Asset Management portfolio manager Brad Potter said. "But bulk commodity prices are trading below consensus and if they stay around current levels much longer analysts will likely start downgrading the big resource stocks."

3:02pm:Rarely has a country repaired its image with creditors so quickly, Bloomberg Businessweek writes in a surprisingly upbeat assessment on Greece:

The world’s attention has moved on since the Greek debt crisis (a lot has happened since), but it’s worth stopping for a moment to look at what went right, as well as the huge challenges that remain.

In a nutshell, what went right is that the troika of foreign official lenders gave the Greek government inexpensive loans so that it never had to borrow at those exorbitant open-market rates. And the Greek government was surprisingly successful at cutting spending, which was essential to regaining investors’ confidence.

The Hellenic Republic managed to achieve “primary” balance - that’s when revenue exceeds spending, excluding debt service - year ahead of schedule. Now it’s hoping to be able to resume borrowing in the private market before this May’s European Parliament elections.

This week banks managed to sell billions of dollars’ worth of shares to foreign investors, thus strengthening their capital and ability to make new loans.

Still, Greece continues to face enormous challenges. The main one is that belt-tightening isn’t enough. Greece must also remove subsidies and barriers that protect politically entrenched interests while costing the general public and inhibiting growth.

2:43pm: Notwithstanding a recent sell-off in some of the faster growing listed businesses in the past couple of weeks, in a slow growth world the market is expected to reward those businesses that can grow their top line in coming years.

With that in mind, we've done a quick screen of the top 200 for the stocks where the consensus forecast is for at least 15 per cent compound annual growth in both revenues and earning per share in this financial year and the next.

Highest top-line growth among the 23 names we identify comes from a surprise name - Bank of Queensland.

Naturally, it has to be said that all predictions have to be taken with a football-sized grain of salt.

2:20pm:The “Asian Century” is upon us, write the Asia economics team at ANZ (likely with some glee), but warn that without a financial transformation to match, countries across the region will struggle to escape what development economists call the “middle income trap”.

Asia’s economies already account for a quarter of the world economic output, up from 17 per cent 20 years ago. ANZ expects that figure to be 35 per cent by 2030 and over half by the middle of the century (see chart below).

“To build out a consumer-based high-income economy, an efficient and transparent financial system is critical. Consumers, small businesses and large corporations need to have confidence in the system as well as improved access to capital and modern financial management products.”

The ANZ predicts that the Chinese currency and capital markets will dominate regional financial markets within 15 years, and while the renminbi will become “a genuine rival” to the US dollar as the global reserve currency, the greenback will retain that status “for decades to come”.

“All of this will mean a rapid development of Asia’s financial centres. Shanghaiwill rival New York as a financial centre for a large domestic economy as well as an international hub. Singapore is likely to increase its importance given its critical role in South-East Asia. Second-tier centres will emerge; Hong Kong and Tokyo will remain important while Seoul, Mumbai and Sydney will grow strongly.”

1:56pm: UBS analyst Glyn Lawcock has run the ruler over Gina Rinehart’s freshly funded Roy Hill iron ore mega-project and comes to the conclusion that it will produce the bulk commodity at a lower cost than all other Aussie miners apart from the two giants:

In the case of Roy Hill, despite a heavy funding load (interest estimated at A$9/t), we estimate an all in cash cost of A$45/wmt FOB (inclusive of C1, SG&A, exploration, sustaining capital and interest but excluding royalties). This is better than all other Australian producers except BHP Billiton and Rio Tinto.

The margin benefit Roy Hill enjoys over the other Australian producers (FMG and the juniors) increases when we look at it on a price needed to be cash breakeven, given Roy Hill is higher quality in terms of higher Fe content and lower impurities, plus it is 40% lump which is currently enjoying a US$12/t premium over fines.

We estimate Roy Hill would need a $US54/dmt cfr 62% Fe iron ore price to be cash breakeven at an exchange rate of US90c per A$. This compares to FMG at $US72/dmt cfr and the juniors who range from $US70/dmt cfr up to $US91/dmt cfr.

The iron ore price is currently hovering comfortably above $US100 a tonne, having risen 0.4 per cent to $US112.30 overnight.

1:39pm:Look to Chinese demand for an indication of where the gold price is heading, says ANZ commodity analyst Victor Thianpiriya.

Thianpiriya – who is predicting further falls in gold after the precious metal slumped nearly 7 per cent over the past 11 days to below $US1300 an ounce – says the lack of demand from China was weighing heavily on the metal.

He says China is the world’s biggest buyer of gold and any indication of its retreat from the market could not be underestimated:

One thing I look at quite closely is the difference between the Shanghai price of gold and the spot price, and that for me is quite an important indicator of the appetite for gold in China.

What we’ve actually seen all throughout this move up in gold, before we had the sell off, was that spread was compressing, which to me suggests that the demand in China is slowing, and we have certainly see that through our physical volumes as well.

Volatility in China’s currency has made gold more expensive to import, with the yuan depreciating about 2.5 per cent against the US dollar this year.

Also what we have seen is a lot of the demand was front-loaded to last year. In 2013 there were record imports and record consumption of physical gold, and what happened to price last year really brought forward a lot of demand.

I can’t overemphasise the importance of looking at what demand in China is doing. At the moment I just don’t see them stepping into the market and supporting it, even at prices below $US1300 which is where we are now.

Markets will always overshoot, so I do see a bit of a risk of a further correction to $US1280 and even below before we see the Chinese come in and support the market.

ANZ is relatively bullish about the mid-term outlook for price of gold, forecasting it to rise to $US1450 an ounce by the end of the year.

1:29pm:Navitas’s contract with the government to provide English language training to recently arrived immigrants across six Sydney training centres has been extended for a further three years to mid 2017, the company announced today.

After dropping 7.5 per cent yesterday, the stock has rallied 6.1 per cent on the news.

1:26pm:Fears that abubble in internet stocks is about to burst intensified on Thursday, as a sell-off in US technology stocks spread to Asia – wiping billions of dollars off the value of Chinese online game maker Tencent.

Shares in the company sank 6 per cent in Hong Kong, while smaller rivals Boyaa and Forgame dropped 10 per cent and 8 per cent respectively.

Tencent has fallen more than 17 per cent since the start of February, taking its market capitalisation down from $152bn to $126bn, although the stock had something of a relief rally today.

The moves in Asia followed the miserable market debut of King, a UK mobile games designer, in New York on Wednesday.

King raised $500m from its initial public offering, but tumbled on its first day of trading to close 15 per cent below its listing price. Shares in King dropped a further 2 per cent by midday in New York on Thursday.

After other US-listed internet companies fell sharply on Wednesday the market remained largely on the defensive in New York on Thursday.

The Nasdaq Composite was down 0.5 per cent as shares in Google dropped 1.5 per cent, while Twitter rebounded 3.2 per cent after a drop of 7 per cent on Wednesday.

12:58pm:Ukraine has secured an emergency bail-out of up to $US18 billion ($19.4 billion) from the IMF to stave off imminent default but will see no debt relief and will be forced to slash spending amid dangerous civil conflict.

Critics say the package may be too small to stabilise the country as it spirals into depression with wafer-thin foreign reserve, and braces for a fuel shock as Russia's Gazprom doubles the cost of energy overnight in a move described by Washington as political harassment.

Ukraine's premier, Arseny Yatseniuk, said his country was ''on the edge of economic and financial bankruptcy'', yet vowed to comply with demands for drastic austerity - including a 50 per cent rise in fuel prices - even if this proved a ''kamikaze'' mission.

There will be no haircuts for creditors under the deal, unlike the EU-IMF formula in Greece and Cyprus. This amounts to a bail-out for Russian state banks and Western funds accused of propping up the previous regime and for vulture funds that bought Ukrainian debt cheaply for quick gain.

Tim Ash from Standard Bank said: ''Ukraine has been the ultimate moral hazard play and it's cavalier to expect taxpayers to cover this.''

Mr Ash said it has been obvious since 2011 that Ukraine was heading for the rocks, yet funds continued to snap up its bonds, betting that the country was ''too big and geopolitically important to fail'' and would always be bailed out in the end by Russia or the West.

The global asset group Franklin Templeton alone held $US7.3 billion of Ukrainian bonds at the end of 2013.

Mark Mobius, the group's chief, said last month: ''Our belief is that Ukraine is in somewhat of a sweet spot... We believe they are going to keep friendly/good relations with Russia.''

Every day, valuations get more stretched. Indeed, Australia is just months away from having the most expensive residential property market in history.

Anyone with exposure to the banks, which account for one-third of the sharemarket's value, or to housing, should be focused on two questions:

When will a bona fide bubble emerge and how steep are the price falls likely to be when borrowing costs are normalised?

After calling a housing recovery at the start of 2013, we warned that the Reserve Bank of Australia’s decision to slash its cash rate to a record 2.5 per cent low in August would fuel double-digit house price inflation that risked blowing a destabilising bubble. At the time, we argued the housing market was already “priced for perfection” – home values could not afford to outstrip incomes for any sustained period.

Our worry was that if national prices expanded at, say, a 10 per cent annualised pace for six to 12 months, or more than triple wages growth, Aussie homes could become dearer than fundamentals warranted. So it has proved.

...

While sticking to its line that there’s nothing to worry about, the RBA conceded this week that “there are indications some lenders are using less conservative serviceability assessments . . . and signs of an increase in high-LVR lending among some institutions”.

Acknowledging a burgeoning bubble is awkward for the RBA given the conflicts between its monetary policy objective, which requires super-low rates, and its “financial stability” mandate, which is tasked with preventing imbalances, like destructive bubbles, being induced by abnormally cheap money.

12:37pm:Japanese consumers unexpectedly cut back on spending two months before the first sales-tax increase since 1997, in a potential sign that emerging inflationary pressures are undermining purchasing power.

Household spending fell 2.5 percent in February from a year earlier, the first drop in six months, the government said today in Tokyo, compared to median estimate of economists for a 0.1 percent rise.

Retail sales slowed, while a measure of inflation that strips out energy and fresh food increased the most since 1998.

While the data, which include a measure of demand for workers approaching a two-decade high, offer policy makers confidence their drive to end deflation is working, they also flash a warning sign.

Without wage gains, the danger is that the end of 15 years of sustained price declines will damage the world’s third-largest economy.

“Households are suffering from inflation as their incomes haven’t grown much,” said Naoki Iizuka, an economist at Citigroup in Tokyo. “People are purchasing durable goods to save money before the sales-tax hike, so they have to cut back on non-durables.”

The splurge on hard goods comes despite their prices rising in February at the fastest pace since April 1980.

Prime Minister Shinzo Abe said yesterday that the economy has reached a stage that cannot be called deflation.

12:23pm: The changes to the Qantas Frequent Flyer Program could further rattle a travelling public already wary of the upheaval at the national carrier and affect the large number of partner businesses that use probably the best known loyalty program in the country to help sell their own services.

Qantas has told its more than 9 million frequent-flyer members the changes are aimed at aligning the number of Qantas points and status credits they earn more closely with the fares they pay, where and when they fly and the airline they fly on, rather than on the miles flown.

These credits determine the type of frequent-flyer card members hold, and thereby their ability to access perks.

The overhaul of its frequent-flyer scheme has prompted an outcry on social media with some people suggesting it will encourage more travellers to fly on competitor airlines such as Virgin Australia.

Former Qantas chief economist Tony Webber said the change made sense economically, but was a public relations misstep.

"The timing is poor," said Mr Webber, who is now managing director of Webber Quantitative Consulting.

11:56am:One of the US Federal Reserve’s most dovish policy makers has told investors that raising interest rates in America is not the answer to preventing another round of instability within financial markets.

“I don’t believe that such monetary policy adjustment is the right approach," he said.

"I think the inference that persistently low interest rates pose a danger to financial stability is based on a narrow view of the economy,” he told an audience at the Credit Suisse Asian Investment Conference in Hong Kong.

He added that “If more restrictive monetary policies were pursued to generate higher interest rates, they would likely result in higher unemployment and a sharp decline in asset prices, choking the moderate recovery. “

Evans, has long held the view that Fed policy officials should allow inflation to run above the Fed's 2-per cent target and that it would be a small price to pay for bringing the United States economy back to full employment quickly, and could even signal the Fed's commitment to making good on its goals.

His views are opposed to that of Philadelphia Fed President Charles Plosser, who is considered a more hawkish policy adviser because he believes that letting inflation rise above the target would call into question the Fed's commitment to its goals, undermining its policy effectiveness.

Debate on both sides, represented by Evans and Plosser, has underpinned a divide at the Fed.

Where US Federal Reserve board members reckon rates should be in the medium and long term.

11:42am: The board of Formula One parent Delta Topco agreed this week to issue a $US332 million dividend for last year, British broadcaster Sky News reports on its website, citing sources.

Private equity firm CVC Capital Partners, the largest shareholder in Formula One, will be the biggest recipient and take away nearly 80 million pounds of the payout, Sky said.

It added that the estate of Lehman Brothers would receive about $US40 million of the dividend, while Formula One's billionaire chief executive Bernie Ecclestone would take about $US17 million through his 5.3 per cent stake.

Other F1 shareholders include the fund managers BlackRock and Waddell & Reed, Norway's Norges Bank and the municipal retirement fund of Texas's teachers.

11:19am: A Federal Court judge has ordered travel agency Flight Centre to pay an $11 million fine for inducing three airlines into price-fixing arrangements.

Justice John Logan ordered the company to pay the fine within 45 days.

In December, the Federal Court upheld the ACCC’s case that Flight Centre had induced Singapore Airlines, Malaysia Airlines and Emirates to stop directly offering international airfares at prices lower than that offered by the travel agency.

The ACCC had claimed Flight Centre had broken the law on six occasions between 2005 and 2009. The company was found to have breached the Trade Practices Act on five occasions.

11:13am:Japan's core consumer prices rose for a ninth straight month in March from a year earlier and labour demand improved - further evidence the economy is making headway against years of deflation and stagnation.

Ministry of Finance data showed household spending and retail sales weakened in February as snowstorms across Japan kept many consumers at home, but there are already signs that sales are accelerating this month as shoppers rush to beat a sales tax hike on April 1.

"The gradual increase in prices is consistent with a narrowing in the negative output gap," said Hiroaki Muto, senior economist at Sumitomo Mitsui Asset Management. (A negative output gap shows the economy is performing below full capacity.)

"The employment situation will also continue to put some mild upward pressure on prices. Consumer spending came in weak, but it will rebound next month."

The 1.3 per cent annual gain in the core consumer price index, which includes oil products but excludes volatile fresh food prices, matched the median estimate in a Reuters poll.

"Amazingly, in a bull market for Australian equities we have DOWNGRADED ASX earnings due to weak derivatives volumes (SFE)," he told clients. "That says it all. This stock doesn’t have the market leverage you think it does and I continue to recommend selling/shorting ASX and switching to genuine market linked earnings in AMP, Computershare or Macquarie Bank. ASX is expensive and growthless, with genuine regulatory risk (High frequency trading, clearing).

"The East Coast new home construction cycle (180,000 new homes next two years) should also be played via Brickworks. Yes, it’s a bit complicated due to cross holdings, but the simple point is brick prices and brick volumes are rising and that will lead to higher profits and dividends. Brick sales are +30% yoy and 70% of Brickworks building products sales come from the East Coast. The stock is trading at a 15% discount to its peers, a discount we believe will close.

"And finally, Crown has had a little pull-back ex dividend and with some weakness in the MPEL share price. We reiterate Crown has multiple growth options on the go over the next few years, which will be internally funded (Melco Crown Entertainment dividends) and we view the pullback as another chance to add to positions. On FY15 price to growth ratios (PEG) Crown is now very cheap."

10:53am:Two top executives at McAleese group, owner of Cootes Transport, have resigned in a board and management reshuffle.

Chief executive Paul Garaty and chief financial officer Chris Nunn will leave the company. Its shares are hovering near all-time lows, down 2.9 per cent for the session at 51 cents.

NSW Roads Minister Duncan Gay said this month he had lost confidence in Cootes's ability to move dangerous goods such as fuel due to continued safety breaches, ordering the company to "show cause" why it should be allowed to continue to operate.

Garaty and Nunn's depature comes almost three weeks after director Mark McSweeney resigned for ''personal reasons'.

Interim executive chairman Mark Rowsthorn will immediately assume the role of managing director and chief executive. He said the departures follow the NSW Roads and Maritime Services last week endorsed a restructuring of Cootes and its maintenance and safety procedures.

10:46am:The Aussie dollar has surged past the tipping point that exporters feel they can comfortably grow their businesses, according to a Citi survey.

The Aussie hit a fresh four-month high of 92.72 US cents overnight and is currently fetching 92.67 US cents.

Citi and East Partners latest quarterly trade and finance index finds that traders started feeling pain when the local unit breached 92 US cents.

‘‘We’re beyond the tipping point of equilibrium between importer and exporter sentiment,’’ Citi’s trade and treasury solutions head Scott Southall says:

Most importers and exporters say their ideal level for the dollar is 85 to 90 US cents. But the competitiveness of exporters is hindered when the Aussie rises above 92 US cents.

An optimal exchange rate from a trade perspective is one where importers and exporters can both find some advantage. Now that the currency has appreciated beyond this level, we’re moving into positive territory for importers and headwinds for exporters.

At US 85 – 90 cents, both groups believed they had nominal pricing power with exporters forecasting a 0.3 per cent increase in their pricing and importers a 0.5 per cent increase.

10:11am:Warren Buffett's bet on US banks will generate $US123 million ($132.9 million) more a year after companies including Wells Fargo and American Express passed the Federal Reserve stress tests and were cleared to lift dividends.

Berkshire Hathaway, where Buffett is chairman and chief executive officer, has a larger allocation to financial firms among its equity investments than any other industry. It is the biggest shareholder in San Francisco-based Wells Fargo and American Express, the No. 1 credit-card issuer by purchases.

While Buffett, 83, has rejected the idea of a dividend at Omaha, Nebraska-based Berkshire, he welcomes them from companies he invests in, using the funds to build up his own firm. The increased payouts highlight how returns from some of Buffett's largest investments now rely on Fed approval.

Increasing dividends "are probably something he was hoping for in the long term," Andrew Kilpatrick, a Buffett biographer, said before yesterday's announcements. "Patience is the big lesson."

The firms announced capital plans after the Fed evaluated how they would fare in a hypothetical financial crisis and found they could pay dividends while still maintaining a cushion against losses. The regulator is working to avoid future taxpayer bailouts like those of 2008 by evaluating banks' capital and management.

10:00am:Morningstar analysts have commenced coverage of discount foreign exchange services company OzForex with an “accumulate” rating, calling it “an attractive business” with a fair value for the shares of $4.10.

It comes at a good time for the stock which has lost a tenth of its price over the past couple of weeks to $3.12, as local investors seem to be following the lead from Wall Street and offloading higher growth, “tech” names.

The analysts write: “While our fair value implies high forward fiscal 2015 price/earnings of 37 times, we believe this is a business in its infancy and well placed to participate in a revolution in the way consumers and small business exchange currency”.

“Still only commanding a small piece of the market it competes for in Australia, we see no reason its share of the market cannot triple from roughly 5 per cent to 15 per cent during the next 10 years. The firm has even smaller market share in other countries, giving it ample room to grow.”

But they slap a “high uncertainty” rating, pointing to the risks that the major banks or new technology will undermine OzForex’s growth potential, as well as the potential for increased compliance costs around money laundering legislation.

9:50am:Coal prices are unlikely to crash but drift gradually lower as China declares war on pollution and lower demand in developed countries offsets a strong appetite from emerging markets, analysts say.

The fossil fuel is the world’s second biggest energy source, accounting for about 30 per cent, but its environmental credentials is hammering demand.

Capital Economics head of commodities research Julian Jessop says although Australian and European coal prices have been trending down since 2011 and have fallen sharply this year, they are unlikely to crash.

He forecasts the price of European coal to slip from about $US75 a tonne to $US70 this year and to about $US65 a tonne in 2015.

Jessop says while developing countries were phasing out coal in favour of greener alternatives such as gas and renewable sources, ‘‘robust demand’’ from emerging markets will limit any falls:

The price of coal is a fraction of alternatives such as oil and gas, making it difficult for developing nations to move away from burning coal.

The infrastructure requirements of importing liquefied natural gas or building renewable sources make these options even less appealing.

Jessop says Russia is also likely to ‘‘dramatically increase’’ its consumption of coal in coming years as it exports more gas to China.

9:24am: The federal and state treasurers plan today to agree in principle to the privatisation of billions of dollars of assets in return for extra federal funding for infrastructure. Officials negotiating the deal believe it will act as an incentive for the states – especially NSW and Queensland – to start selling off assets like ports, roads and electricity companies.

If the states invest the proceeds in what Canberra deems to be productivity-boosting infrastructure, the federal government will make a larger than usual contribution to the cost of the projects.

At a meeting in Canberra this morning, federal Treasurer Joe Hockey will impose a deadline on the states to qualify for the incentive payments.

The time frame is yet to be finalised but sources told The Australian Financial Review it would be less than five years and probably about three years.

This would enable the NSW and Queensland governments, which have been the slowest to privatise assets, to seek a mandate from voters. Both governments are scheduled to go to the polls next March.

There is an estimated $220 billion in unsold federal and state assets. The scope of the new competition review announced by Small Business Minister Bruce Billson on Friday paves the way for the privatisation of the remainder of federal government assets such as Australia Post.

On Wednesday, the government gave the green light to sell Medibank Private, Australia’s biggest health insurer.

However, most of the pressure is on state governments to sell their assets and build badly needed roads, ports and other projects as part of the Abbott ­government’s infrastructure-driven productivity push.

Core CPI is a massive part of Abenomics, and although the BoJ and the central government have removed the two-year timeframe to reach the 2% inflation target as on current metrics the rate isn’t moving faster enough; there has certainly been a positive effect on inflation.

Last month the total read (year-on-year) was 1.4%, however the banks and the central government are watching the CPI print excluding food, as it is a better read on the overall economy. CPI ex-food on the consensus read is to see no change at 1.3% and looks to be stagnating.

With the BoJ looking increasingly unlikely to add to the already massive stimulus package signs, CPI isn’t moving which will mean further measures will have to fall back on the Abe government and its three arrows.

How it pulls its arrow levers is unclear; however it might just have to pull harder to get the Japanese economy out of this two decade deflation.

9:02am: The US economy grew a bit faster than previously estimated in the fourth quarter and new claims for jobless aid dropped to a near four-month low last week, suggesting the economy has plenty of momentum to break out of its winter chill.

Housing, however, will probably take a while to escape from its recent slump as contracts to buy previously owned homes fell to their lowest level in almost 2-1/2 years in February.

Still, economists said on balance the data on Thursday presented a better growth picture.

"The economy looks in a better place than it did just 24 hours ago," said Chris Rupkey, an economist at Bank of Tokyo-Mitsubishi UFJ in New York.

GDP expanded at a 2.6 per cent annual rate in the final three months of last year, the Commerce Department said, up from the 2.4 per cent pace it reported last month.

Although the revised pace was still significantly slower than the 4.1 per cent rate logged in the third quarter, the composition of growth suggested underlying strength.

Consumer spending, which accounts for more than two thirds of US economic activity, was raised sharply higher and the pace of restocking by businesses was not as robust as previously estimated. Business investment in equipment was a bit stronger and the drop in government outlays was a little less pronounced.

A separate report from the Labor Department showed initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 311,000 last week, the lowest level since November. Economists had expected claims to rise to 325,000.

The four-week average, which gives a better picture of underlying labor market conditions as it irons out week-to-week volatility, hit its lowest level in six months.

8:45am: Interesting one out of New Zealand: RBNZ deputy governor Grant Spencer reckons the central bank's limits on low deposit, high risk home loans have been effective in reducing overall house price inflation, and have been worth up to 50 basis points in rate hikes.

"The dampening effect of (loan-to-value ratios) on house price inflation is estimated to have reduced CPI inflation pressures by an amount equivalent to a 25-50 basis point increase in the OCR," he said in speech notes to a Hong Kong investment conference.

"In this respect, the LVR restrictions may have reduced current pressures on the NZD exchange rate."

The RBNZ imposed a 10 per cent limit on banks' low deposit-high value lending to customers with less than a 20 per cent deposit for a house last October.

The 'macroprudential' measures are aimed at cooling the housing market, which has been at record levels, and reduce risk to the financial system from a potentially sharp downturn.

Latest figures from the RBNZ showed high LVR lending, after exemptions, had fallen to 4.2 per cent of banks' total mortgage lending in February from about 25 per cent before the restrictions.

Spencer said the lending limits were not intended to be permanent, and with the RBNZ having started to raise rates, they could be eased or eventually removed. The bank earlier this month raised its official cash rate (OCR) by 25 basis points to 2.75 per cent, and flagged further hikes this year.

Despite their effectiveness in New Zealand, chances aren't high the RBA will introduce similar measures. Stay tuned for an analysis.

Shrinking spread ... the Aussie against the US dollar (yellow line) and the Kiwi/USD exchange rate.

8:33am: The Aussie dollar has defied its multitudinous critics, including those doubting Thomases in Westpac'sforex strategy team, as they admit in a note released yesterday evening (and from where we stole our early headline for the Markets Live blog this morning!).

They note the solid domestic economy and a “sudden lack of sensitivity to China news” have helped greatly. (For the record, we also tossed around the line “teflon Aussie”.)

But the Westpac team remain dubious that the recent strength in the currency can continue: “without the backing from higher commodity prices and with the US dollar likely to enjoy better US data over April, the Aussie is starting to look pricey”.

They don’t see it trading much above US92c, with the charts suggesting it could approach US93.3c , but at those levels would be “very prone to reversal”.

8:22am:QubeHoldings says it is “pleased” with strong institutional investor demand for yesterday’s $200 million equity raising that was completed at a price of $2.12 – 4.9 per cent below the last close price of $2.23, the company said in a statement this morning.

If you held shares in the company at 7pm Wednesday evening you’ll be eligible to participate in the share purchase plan, which is planned to raise $30 million at the same share price as the placement.

8:18am:Gold has extended its recent slide, breaking below $US1300 an ounce for the first time since mid-February, as encouraging US economic growth in the fourth quarter diminished the metal's appeal as a hedge.

A stronger dollar and technical weakness after bullion broke through psychological support at $US1300 an ounce and its 200-day moving average at $US1296 an ounce also triggered selling, traders said.

The US economy grew a bit faster than previously estimated in the fourth quarter and new claims for jobless aid dropped to a near four-month low last week, suggesting the economy has plenty of momentum to break out of its winter chill.

"Gold is under pressure after the strong GDP report fuelled anticipation of higher economic activities in the second and third quarter," said Frank McGhee, head precious metals dealer at Chicago commodities brokerage Alliance Financial.

Spot gold fell 1 per cent to $US1291.31 an ounce in New York trade, having earlier hit $US1288.80, which was a six-week low. The metal hit a six-month high at $US1392.33 just 11 days ago, on March 17, and has since fallen nearly 7 per cent.

Analysts said that gold's recent rally, which was based on a weaker US growth outlook, was overdone, particularly with the unusually cold weather hurting economic activities earlier this year.

Bullion has been under pressure after Federal Reserve Chair Janet Yellen said last week that rates could start rising early next year, raising the opportunity cost of holding non-yielding bullion.

"The tapering extension at the last Federal Reserve meeting seemed to start the rot in gold, and refocus people's minds on the fact that the US economy is actually doing pretty well," Citi analyst David Wilson said.

Next they should look at seasons in the Southern Hemisphere. My experience, based on what is happening in my veggie garden & fruit trees, is that things are happening up to 2-4 weeks earlier than 30 years ago.That can have an impact on agriculture and the timing of our products into world markets and what we should/could be growing.http://www.news.com.au/world/breaking-news/northern-seasons-are-shifting-study/story-e6frfkui-1226867091640

Commenter

mitch of ACT

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Date and time

March 28, 2014, 3:22PM

What is "jaw boning" and why would a public servant be paid over $1 000 000 pa to "jaw bone"?

Commenter

Barnum & Bailey Circus

Location

Ringling Bros.

Date and time

March 28, 2014, 3:15PM

MARKETS LIVE : Bears smashed again...have a good week-end

Commenter

no banks .. no party!

Location

Date and time

March 28, 2014, 3:13PM

Flexigroup on a PE of 13 looks screamingly cheap esp. given revenue growth in your chart

Commenter

Union

Location

Melbs

Date and time

March 28, 2014, 3:06PM

ACR woof woof bargain as wellshorted to hell.......down down

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

March 28, 2014, 3:50PM

@320 comment "asian bubble"

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

March 28, 2014, 2:42PM

If your house is only 4.5 times your disposable income, then I would consider it as cheap. I have my roots in India, you need 2-3 generations of savings if you want to live in a metro city there!!!.

Commenter

Best Livable Country

Location

Rowville

Date and time

March 28, 2014, 2:42PM

You have to look up not down. Comparing with something better is a positive attitude and looking down is negative. Australia does not have to compete with the worst places to live on Earth.

Commenter

xyz

Location

Date and time

March 28, 2014, 3:03PM

India is a very poor and underdeveloped country and therefore is a very poor comparison. One of the foundations of widespread prosperity in countries like Australia was good, relatively cheap housing. Housing booms also have a habit of destabilising economies. This is nothing new.

Commenter

context

Location

Date and time

March 28, 2014, 3:36PM

Hi I'm looking to buy a house in New Zealand with a 10% deposit.

Oh no, I forgot that you changed the laws that state a minimum deposit is 20% haha

Commenter

NEw Zealand Immigrant

Location

Date and time

March 28, 2014, 2:31PM

Ed - I thought you were trying to adhere to some key principles of staying on subject. It appears you are slipping.

Commenter

Viking

Location

Sydney

Date and time

March 28, 2014, 3:25PM

If you can get the volume, Countplus (CUP) is on special today @ $1.74 (6.9% div...up to 9.9% with franking). NICE!

Commenter

GS

Location

Date and time

March 28, 2014, 2:28PM

DWS buying territory as welli like em both for divds

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

March 28, 2014, 3:23PM

@ JohnBB "The market was never going to stay above the red line today..."

LOL. Maybe Monday your crystal ball will be clearer.

Commenter

confused

Location

syd

Date and time

March 28, 2014, 2:21PM

I'm not sure JohnBB even thinks we'll make it to Monday......."-)

Commenter

Life IS Good

Location

The Real World

Date and time

March 28, 2014, 2:28PM

Did it stay above? No. Just before 11am it fell below...The English language is a beautiful thing...The spirit of my comment was the market's going nowhere. It's been hovering around here for a while with nothing pushing it up...

Commenter

JohnBB

Location

Date and time

March 28, 2014, 2:28PM

<<< chart looks speccy but its only 25 points... at least.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

March 28, 2014, 2:33PM

confused: remember, he is more right than wrong. His words.

Commenter

DraftReader

Location

syd

Date and time

March 28, 2014, 2:37PM

Doh !!!!

Commenter

John BB's mate

Location

Springfield

Date and time

March 28, 2014, 2:39PM

I wonder why the employer paid him 5 times above than the average in 1983. Hmm...

Commenter

Hugo

Location

Date and time

March 28, 2014, 2:39PM

@DraftReader...Lucky you're not the proof reader. I never said that...Stop the misquoting.

Commenter

JohnBB

Location

Date and time

March 28, 2014, 2:49PM

Look I know it's frustrating for you people to hear common sense crash your fast wealth plans. I'm sorry but it's for your own good. @hugo. Get over it...I simply stated how I remembered it from 30 years ago when I was a kid....I you saying RE prices haven't gone up relatively?

Commenter

JohnBB

Location

Date and time

March 28, 2014, 2:55PM

Thinking about ditching NAB todaybut just cant hit the sell button,some way to go in these fleximarket=times??bank bubble just doesn't want to burst.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

March 28, 2014, 2:17PM

IF we see a big correction in house prices or possibly defaults that would be disastrous.

Commenter

BullshapedBear

Location

Date and time

March 28, 2014, 2:30PM

bit more to go for NAB yet, don't forget the dividend coming up so you can expect a little spurt just prior to that

Commenter

Dividend Watcher

Location

Date and time

March 28, 2014, 2:42PM

plan on selling all my bank shares in the next 3 weeks. Some are close to all time highs and div will be announced soon. Hopefully with a mid year slump they might be worth a look again.

Commenter

DraftReader

Location

syd

Date and time

March 28, 2014, 2:53PM

Explain why NCM suddenly surged above $10

Commenter

Bubbles

Location

Date and time

March 28, 2014, 2:09PM

window dressing

Commenter

H

Location

Date and time

March 28, 2014, 2:31PM

More like "fat finger".

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 2:50PM

Jumped on BDR @ 0.585 tooooo cheapwe'll see.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

March 28, 2014, 1:57PM

RE: Current weak Chinese demand for gold

A few more big defaults and investor bath parties in China will have Chinese flocking to gold like moths to a flame in the not too distant future haha

Commenter

Gold Bug

Location

Date and time

March 28, 2014, 1:51PM

@226 internet bubblewonder if we see a "education bubble" forming here?with GEM shooting and now i see VET which floated recently then fell back to 1.78 post float,has ticked over @ 2.65 still with light volumes,not quite a market darling yet,but heading up nicely."gold bubble" burst just gotta let reality sink in i dont think $1280 is non profitable for most but exchange rates play their part and hedging prices did look ok for a few.

Commenter

BearshapedBull

Location

BubbleBath

Date and time

March 28, 2014, 1:47PM

Look at the market climbing up, steady as she goes, stand bye for all the babies toys being thrown from cott!

Commenter

ASX

Location

ASX

Date and time

March 28, 2014, 1:45PM

Yep the ASX is looking strong around these 5300 October 2006 levels LOL

Commenter

ASX Historian

Location

Date and time

March 28, 2014, 1:53PM

The market was 1400 in 1992. I can see why you're upset, ASX Historian.

Commenter

pass the red

Location

Date and time

March 28, 2014, 2:36PM

We did have a small discussion re: DDTseems 12.5% today with no real news seems excessive for stock that floundered 2.0-2.4 for months,aww well missed that one.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

March 28, 2014, 1:37PM

Growth stocks starting a good upward trendGEM wackin on past 5.00 goooooAFJ finally feeling some loveAZV taking a breather but 37% since august is a great show.still cant look too hard at MGX but u turn has been made for now.

Commenter

BearshapedBull

Location

Mugpunters Lounge

Date and time

March 28, 2014, 1:34PM

Who's Styx talking abut?......."Yes a Dictator would be handy. Maybe one that has qualifications to run and build a country, like an Engineer with a business degree. Someone who was once a blue collar Tradie and has also served in the Military. Someone who is also young, not biased by religion and also not willing to be pushed around by the self interests of big business...Now where can we find someone like that. *Cough*"........

Commenter

JohnBB

Location

Date and time

March 28, 2014, 1:32PM

you should watch the dictator. pay attention to the last 10 minutes. a very funny movie. ah 911. I wet myself with that scene.

Commenter

smilingjack

Location

Date and time

March 28, 2014, 1:57PM

Got a mirror?

Commenter

Snow White

Location

Date and time

March 28, 2014, 2:11PM

Gerald CelenteMax KeiserGreg Hunter

Commenter

Bumble Bee

Location

Melbourne

Date and time

March 28, 2014, 1:27PM

With reference to your post on the IMF loan to Ukraine.

Nobody ever does any serious questioning of the "reforms" that the IMF enforces on their victims. These "reforms" (it's such a reasonable sounding word, isn't it?) are never in the interests of the nation.

The IMF is not a philanthropic charity, it is a vulture that swoops on weak countries, strips them of their assets, forces neo-liberalism on them, and charges them extortionate interest for the favour.

I doubt that people fighting on the Maidan knew they were really fighting on behalf of the IMF.

Commenter

Fred

Location

Date and time

March 28, 2014, 1:10PM

RE: 1:57 Christopher Joye on housing

So this guy predicts a housing recovery at the start of 2013. We get 10-15% increase (inc ~2.5% inflation) and now it's overvalued by 10%.... ooooooo k then mate!

Commenter

GS

Location

Date and time

March 28, 2014, 1:09PM

Ukraine's premier, Arseny Yatseniuk, said his country was ''on the edge of economic and financial bankruptcy''

"Russia's Gazprom doubles the cost of energy overnight"

The US and Europe threaten sanctions against Russia which Russia has obviously planned a response to.

US$100 trillion global DEBT and rising

A bitter long winter righting off a huge amount of economic activity across the Northern Hemisphere

Hm.. I better quickly rush out and buy assets at the top of the market! LOL

IMF is going to bail out Ukraine - as long as the bulk of the funds go towards buying yank weapons and buying cheap yank gas. Nice.that should settle things down in the region. did you detect the sarcasm.maybe they could buy the f35 stealth fighters - them and australia the only 2 countries as even the yanks own military dont want them.

@ Chumlee, there is lots of good money to made from infrastructure type companies and we were all given the heads up on September 14 by the PM himself. Don't even need to be a Rhodes Scholar to work that out.

People can kick, scratch and scream all they like but it would be far easier for them to join the party (pardon the pun)

Commenter

Sir Aussie Al

Location

Adelaide

Date and time

March 28, 2014, 1:27PM

and so it begins. I reckon there could be some shorting opportunities as people rush in and buy up these type of companies and after several months nothing has actually happened so the price drops again.remember this entire process will takes years if not decides to get going. minimum of several years for the first sods to be turned as it were.now the investment banks that will do the selling / financing etc should make a killing.

Commenter

smilingjack

Location

Date and time

March 28, 2014, 1:55PM

While I agree with the proposal to funnel cash from public asset sales to building infrastructure, there's many months before anything concrete (appropriate in the context) can happen. Assets have to be selected for sale, dressed up, marketed then hopefully sold for something like a fair return to the taxpayer. Then the relevant infrastructure project(s) have to be planned, altho the 2 processes can happen simultaneously. In the meantime the market could go through multiple rises and falls and make a nonsense of any stock purchase decisions made now. The way this gov't operates the work could be contracted out o/seas shutting out Aussie companies and workers.

Fix your site, make your fees 3% and take the market Quicksales before it's too late.

Commenter

JohnBB

Location

Date and time

March 28, 2014, 1:27PM

Good luck to this site and all Australian tech businesses. However, according to alexa.com the Quicksales website is the 44 934th most frequented website in the world. eBay is the 23rd. The Gumtree website that also provides free listings is the 1 139th most frequented website in the world. Oh.. and eBay owns 100% of Gumtree.

Commenter

Gordon Akman

Location

Broadbeach

Date and time

March 28, 2014, 2:04PM

........"Oh.. and eBay owns 100% of Gumtree.".........Exactly...How is this legal with collusion laws? No better idea than offer a sub standard free alternative so no one else bothers. ACCC? Where are you?

Commenter

JohnBB

Location

Date and time

March 28, 2014, 2:25PM

"Markets Live: Banks push ahead"

I was right! again!

Commenter

Charlie Aitken.

Location

@winning...again!

Date and time

March 28, 2014, 12:38PM

Temped to start easing into some AUD shorts..

Commenter

GS

Location

Date and time

March 28, 2014, 12:22PM

GS, you seem to pick good companies....why do feel the need to jump in and out of the market everyday?

Commenter

no banks .. no party!

Location

Date and time

March 28, 2014, 12:57PM

I have core holdings that are keepers but I also enjoy/profit out of quick trades both long & short that supplement my main holdings.

I'm not really into currency (scared of the random moves) but regret not shorting over $1 when I knew it'd drop. Feel this may be another chance with the US raising rates next year.

I use margin on my trading account so I see it as a bonus opportunity to trade with and make more money. But I am mainly a value investor with my "actual" non-borrowed cash! :)

Commenter

GS

Location

Date and time

March 28, 2014, 1:17PM

I see. good luck mate.

Commenter

no banks .. no party!

Location

Date and time

March 28, 2014, 1:54PM

Of course we all should know the reason why Tony the Tory re-instated knighthoods and damehoods. By the time he is finished inflicting outdated Liberal ideology on the economy he is going to need a white knight to come dashing to the rescue.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 12:17PM

Tory is a brittish thing.. but i guess its fair to say when you vote for commies

Commenter

Wwwish Lion

Location

Moes Bar - its Friday

Date and time

March 28, 2014, 1:04PM

@Lion - I guess Tory is a British term along the lines if 'Sir' and 'Dame'. But I guess that's ok if you are into upper class twits of the year...https://www.youtube.com/watch?v=TSqkdcT25ss

Commenter

Oh_Mighty_Zeus

Location

Mount Olympus

Date and time

March 28, 2014, 3:33PM

I'm not much of a goldie but I do watch them. What is the go with Regis (RRL)... yay or nay? Pays a div too.

Not looking to buy any gold stocks just yet, but may at some point. Last year traded Silverlake & Troy for some quick gains and lucky I did not get back in.

Commenter

GS

Location

Date and time

March 28, 2014, 11:59AM

Lots of bank shares, in particular, changing hand on an o/wise quiet trading day. Anybody know why. Could be an index adjustment or something similar about to take place. In which case it could all be unwound on Monday, our usual negative trading day. But Monday is also the last trading day for the March quarter so the window-dressers will be out and about.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 11:50AM

why?Ask yourself what fair value is for each of the big 4...simple.

Commenter

no banks .. no party!

Location

Date and time

March 28, 2014, 12:55PM

"A Federal Court judge has ordered travel agency Flight Centre to pay an $11 million fine for inducing three airlines into price-fixing arrangements."

Corporate malfeasance of the middle man.

It's ridiculous situation where the middle gets rich and the suppliers of the airline services are struggling. Not for long though I'd say. It has purely been a side effect of first adopter advantage in cyberspace.

Commenter

Allan

Location

Prahran

Date and time

March 28, 2014, 11:43AM

Hang on, I thought that it was only unions that engaged in this type of bad behaviour. As the AWH enquiry by ICAC is showing there are bad boys on both sides of the fence. But this gov't doesn't wants to know what its business mates are up to.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 12:21PM

Wow Mitch, you don't seem to get that many people on here are over you putting your biased political spin on everything.

Commenter

Kane

Location

Date and time

March 28, 2014, 1:24PM

@kane according to George (bookshelves) Brandis I have every right to express my bigoted opinion, even about the Liberals.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 2:12PM

You have every right to do it Mitch. Most people just wish you'd take it to the Federal Politics section of this site. There is a whole section devoted just to Federal Politics yet you think this is the most appropriate place for it? Most of your comments would be as about as relevant as me twisting everything into how much I dislike David Warner when there is a sport section for that.

Commenter

Kane

Location

Date and time

March 28, 2014, 3:25PM

@Kane your comments criticising my comments shouldn't be here either since you are not commenting on anything remotely related to the markets. I at least usually try to make some connection with a market topic, even if it is a little faint.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 3:41PM

Hey guys, how many Australian houses has Warren bought with debt to rent out for a few hundred bucks a week? Is this an investment idea that Warren is interested in?

Commenter

Warren Buffet Wannabe

Location

Date and time

March 28, 2014, 11:36AM

not shorting good oz companies eitherwhats your point?

Commenter

no banks .. no party!

Location

Date and time

March 28, 2014, 12:36PM

He didnt invent google or microsoft and make billions off that either.More than one way to skin a cat...trust me ;)

Commenter

Wwwish Lion

Location

Moes Bar - its Friday

Date and time

March 28, 2014, 12:58PM

It's quite amusing observing small investors thinking they invest like Warren Buffet does. What they need to understand is Warren Buffet often buys "preferred shares" which have many advantages over the "ordinary shares" they have access to/own.

Commenter

Gordon Akman

Location

Broadbeach

Date and time

March 28, 2014, 11:29AM

yes but if WB made it public he had just bought stock ( x ) we all know what would happen to that stock.WB came from a wealthy family. his father was a 4 term US senator and he "hung out " with powerful families who were mostly stock brokers and dealt with shares.His first job was working in his family business as a financial trader. so he had a GIANT leg up with a ton of insider trading. so please stop the WB is a genius stuff. He isnt. After 60 years of devoting his life to trading shares he should have earned a dollar or two.

Commenter

smilingjack

Location

Date and time

March 28, 2014, 12:25PM

Warren's one of those "sophisticated and professional investors" that so many companies sell discounted shares to while diluting their retail shareholders' holdings.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 12:25PM

Wazza's IQ and (more importantly in this game), his EQ would be through the roof.wazza a genius...make no mistake.He owns most (if not all) of the supply, if he never sells, what happens to price as demand eventually floods in?

Commenter

no banks .. no party!

Location

Date and time

March 28, 2014, 1:06PM

It was incorrectly claimed yesterday that wealth per capita is at a record high and that the share market is the driver.

Wealth per capita in real terms is 5% less than 7 years ago. The capital in the sharemarket is 32% lower than it was 7 years ago.

China is rebalancing its economy away from resource intensive GDP. That will undoubtedly hit the Australia's economy hard as noted by Ross Garnaut and others.

Of course vested interests in the resource industry have been trying to discredit that view. They won't succeed.

Warren Buffet wouldn't touch it with a barge pole.

Commenter

Allan

Location

Prahran

Date and time

March 28, 2014, 11:27AM

Yes but if you look at it, you can at least admit it appears to be begining an upward trend again.P.S. im glad you understand NPV, you seem very excited by it lately.

Commenter

Wwwish Lion

Location

Moes Bar - its Friday

Date and time

March 28, 2014, 11:35AM

This is why it is such a stupid time to shut down the car industry to save the same money we throw away on the FBT rort. I agreed wth Pascoe's idea that the FBT rort should have been axed before the car industry. 100 000 construction workers are already streaming back from the big mining projects to the cities where there will be an additional 40 000 unemployed car sector workers and many others. Maybe the Chinese gov will loose its nerve like the optimists say and will stretch out the rebalance over a longer time by slowly tapering their stimulus- if we're lucky! Nevertheless the new government has shown it has zero strategic ability.. Add the gas price fiasco and rising aussie dollar and we have the potential makings of a perfect storm. Anyway, we'll have some solid clues to the Chinese government's stomach for reform by the fourth quarter.

Commenter

Catch 22

Location

Date and time

March 28, 2014, 12:08PM

correction "lose its nerve" not "loose its nerve".

Commenter

Pedant

Location

Date and time

March 28, 2014, 12:50PM

FLT:

It now appears that directors will go all the way to the court of appeal and defend an obviously blatant illegal act.

Ethics must be left outside as soon as the directors enter the court doors. Money remains el supremo!

Commenter

Harry Rogers

Location

Date and time

March 28, 2014, 11:23AM

Coal price has been trending down for 2 years. No need for Maules Creek mine. There is more than enough coal being mined already. Put the Earth first and reduce pollution.

Commenter

Allan

Location

Prahran

Date and time

March 28, 2014, 11:23AM

not sure where you are coming from but MC is the jewel in the crown

Commenter

ajay137

Location

Date and time

March 28, 2014, 11:32AM

Maules Creek coal mine is planned (by Whitehaven's own admission) to mine up to 240 million tonnes of coal over 21 years - equivalent to 750 million tonnes of CO2.

Guess how much the Coalition's "direct action" joke of a policy plans to reduce emissions by? 440 million tonnes by 2020.

Commenter

Basic

Location

Date and time

March 28, 2014, 12:46PM

XRO rebound from 38.5. niceSBM sinking down 8.77%QAN up lifting up 2%. So gold down, gold miner down, market holding firm. QAN sticking it to the shorters, XRO sticking it to the haters. I would say a respectable day for the market.

Commenter

note taker

Location

for Market Live

Date and time

March 28, 2014, 11:18AM

XRO haters? Why get emotional? They have a business model that is easily replicated. Oh and they're not sticky it to me at all. Short at $38.50.

Oh and btw you have your wires crossed. I'm long QAN. I shorted it at 1.90 last year.

Commenter

Allan

Location

Prahran

Date and time

March 28, 2014, 11:36AM

"XRO rebound from 38.5"

Are you looking at a different screen to the rest of us?

Commenter

Allan

Location

Prahran

Date and time

March 28, 2014, 11:51AM

They say a lie can travel much faster than truth. I understood that politicians salaries are set by an independent tribunal and public servants all get the natural flow on effects of the decisions. So that’s why we have a million dollar RBA MD and excessive pays to federal and state public servants. Some of them undoubtedly work very hard but just keep getting handouts based on flow ons. Marvellous system if you can also stay there long enough so nobody recognises your incompetence or actually that you are not needed. Then you get those marvellous pensions. Totally unfair system of course created and run by the beneficiaries of the same system. Apparently the Sunshine Coast in Queensland has become their retirement home of late.

Commenter

Harry Rogers

Location

Date and time

March 28, 2014, 11:17AM

"Patience is the big lesson." says a Warren Buffett biographer,

I like it!!!! Gift!

Commenter

Life Is Good

Location

The Real World

Date and time

March 28, 2014, 11:05AM

You're no Warren Buffett.

Commenter

Allan

Location

Prahran

Date and time

March 28, 2014, 11:13AM

Sorry. Patience won't help you. You have never got the special deals Warren gets and never will. You will just have to deal in ordinary shares like almost everyone else.

Commenter

Wombat

Location

Date and time

March 28, 2014, 11:22AM

Huge. One of the major keys to his success.patience + getting greedy when others a fearful are the two most important traits all great value investors have.

Btw - if it does not come naturally...it never will.

Commenter

no banks .. no party!

Location

it's a gene

Date and time

March 28, 2014, 11:23AM

"You're no Warren Buffett"so if you're not wazza..you cannot make money...hmmmfantastic comment.

Commenter

no banks .. no party!

Location

flawed logic...again

Date and time

March 28, 2014, 11:48AM

So more assets are to be flogged off at bargain prices so the ultra rich who own all the assets already can get even richer.

Meanwhile we get a couple of more roads to clog up with carbon dioxide emitting cars.

What these blindly ideological free market zealots in the LNP don't understand is that privatisation is very unpopular with the public. We've seen what the results of 30 years of privatisation has done for services - it's made it more expensive and we've seen none of the supposed benefits.

In fact according to a poll by Essential Media 49% of Australians would be happy for the government to buy up more of Qantas, while only 30% are opposed.

Commenter

Basic

Location

Date and time

March 28, 2014, 10:57AM

@ basic, shares are not just available to the "ultra rich". If you think they are such bargains, then buy some yourself.

Commenter

pass the red

Location

Date and time

March 28, 2014, 11:24AM

I'm wondering what the effect of all of these public asset sales will have on the local market. All of those assets competing in the market for local funds will drive down the price of the rest of the market as supply of assets exceeds available funds. To sell those public assets in a declining market means that they will have to be offloaded at bargain prices. The problem is the price may be attractive but will the assets be. I suspect some will be real duds. Lenders to State govt's may become alarmed if public assets are offloaded for less than book value and push up interest rates and lower debt ratings.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 11:29AM

"Sir" Peter would have been wiser to turn down his knighthood.

Commenter

Allan

Location

Prahran

Date and time

March 28, 2014, 10:55AM

Why?

Commenter

Wwwish Lion

Location

Moes Bar - its Friday

Date and time

March 28, 2014, 11:21AM

Yeah... why?

Commenter

General

Location

Cosgrove

Date and time

March 28, 2014, 11:32AM

Because no one wants these anachronistic honours reinstated except Tony the Tory. And he had no mandate for it.

Commenter

Allan

Location

Prahran

Date and time

March 28, 2014, 11:47AM

I will take it if he doesnt want it.

Commenter

smilingjack

Location

Date and time

March 28, 2014, 12:00PM

Im all for a republic, but i'll let them knight me if they want

Commenter

Wwwish Lion

Location

Moes Bar - its Friday

Date and time

March 28, 2014, 12:28PM

"The Aussie dollar has surged past the tipping point that exporters feel they can comfortably grow their businesses"

It's not just exporters it's import competing producers like the entire agricultural industry.

Commenter

Allan

Location

Prahran

Date and time

March 28, 2014, 10:49AM

For the $A to be climbing shows how sick the rest of the world's economies really are in comparison. And there's still talk of interest rate rises here That will push the $A up further. All this gives the lie to what Hockey & co have been saying about the dire state of the Aussie economy. However the May Budget may kick the $A down by reducing GDP.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 11:13AM

is it the general philosophy that an interest rate cut will result in a lower aud?

Commenter

smilingjack

Location

Date and time

March 28, 2014, 12:01PM

Stevens is an absolute joke, jawboning is not a strategy it makes him look like a fool.

Commenter

Damian

Location

Nsw

Date and time

March 28, 2014, 10:45AM

if they wanted to do something they could, Intervene!, Switzerland did with the franc not so long ago.

Commenter

Ben

Location

Burwood

Date and time

March 28, 2014, 11:06AM

Jawboning works... if you actually do it.Trouble is the RBA have stopped talking the dollar down in the hope that when the US Fed finishes tapering and starts to raise their interest rates the RBA's will be done for it.

In the meantime people fleeing a potential disaster in China are looking to park their money in a more stable economy like Aus and the best asset to park it in (as far as they are being told by mandarin-speaking Aussie property spruikers) is real estate.

Commenter

Unusual Suspect

Location

Date and time

March 28, 2014, 11:27AM

Stevens is a chinwagger, not a jawboner.

Commenter

Oracle

Location

Oberon

Date and time

March 28, 2014, 1:11PM

The ACTU asking for a $27pw increase in the minimum wage. Makes Campbell Newman's $70k pa increase pale into insignificance. Greedy unions. When will they realise that if they keep that up there will be nothing left for the army of politicians feeding from the trough.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 10:26AM

Thats why its always good to be the King or Queen or closely related to or working with them.The solution. Get up the ladder by hook or by crook.

" life is like a sh*t sandwich. the more bread you have the less sh*t you have to eat."who amongst us would say no to an extra $70K a year. Certainly not I.

Commenter

smilingjack

Location

Date and time

March 28, 2014, 12:35PM

Nice to see the increasing number of people buying bank shares.

Commenter

Wally

Location

Flynn

Date and time

March 28, 2014, 10:17AM

Whitebread Brandis out of his depth.

Someone buy him an ereader and stop him wasting many more thousands on bookshelves.

Commenter

Allan

Location

Prahran

Date and time

March 28, 2014, 10:17AM

Typical ASX 10.30am free fall on the worlds worst stock market. Accept the the banks,Wesfarmers etc who are free to keep ripping us off.

Commenter

smp71

Location

Date and time

March 28, 2014, 9:53AM

Was going to buy some TNG and after the usual dithering found myself locked out by a trading halt, now the buyers and algorithms have gotten into a feeding frenzy and it's up a third. They saw me coming, I swear it!

Commenter

Catch 22

Location

Date and time

March 28, 2014, 9:50AM

Ticky Fullerton on The Business last night interviewed her favourite market guru in London. His opinion is that the arctic winter in the US and very cold & wet winter in the UK and Europe is going to impact on Northern Hemisphere corporate profits. If profits are less than expected in the upcoming reporting season then the SELL button will be hit in May. I expect that will happen by late April. I hope that's not too political for you.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 9:49AM

Mitch, you mentioned in passing the un-Australian anarchist communist socialist loony left luvvy (I'm not sure what luvvies are) conspirators at the ABC! Aussie Al won't be impressed!

Commenter

Fred

Location

Date and time

March 28, 2014, 10:04AM

@Fred can you imagine Murdoch or any commercial operator putting quality programs on free-to-air tv such as 7:30 report, Lateline, The Business, 4Corners, Foreign Correspondent, Insiders, even Q&A to name just a few. Aussie Al and his ilk probably don't watch the ABC because of it's reported left-wing bias but a right-wing bias to pander to vested commercial interest would be even worse.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 10:19AM

Ticky Fullerton on The Business segment interviewing the London guru at best can be described as hilarious. Strange choice and complete waste of time.

Commenter

Ronn

Location

Sydney

Date and time

March 28, 2014, 10:23AM

Thats SIR Aussie Al to you @ Fred, lol

Commenter

Aussie Al

Location

Adelaide

Date and time

March 28, 2014, 10:43AM

@Ronn, I suppose your market experience exceeds Ticky's London guru by a country mile. I know whose opinion I value and I'll bet your'e nowhere near as nattier a dresser either.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 11:20AM

Can someone please answer the following 101 question for me: I understand how bond yield and face value is inversely related, and how interest rates can alter yield, but my question is that when people start pushing money from equities into bonds, will yields start to fall as the face value gets bid upward? Just wondering about the demand side. Thanks!

Commenter

JC

Location

Date and time

March 28, 2014, 9:47AM

Sounds like you answered your own question? If you are getting a fixed rate of say 2% and the popularity of the bond is pushing up the face value (purchase price) what do you think that does to the yield?

Commenter

DraftReader

Location

syd

Date and time

March 28, 2014, 10:05AM

I guess so. I suppose I was after confirming face values acts in a normal demand-price mechanism. Cheers

Commenter

JC

Location

Date and time

March 28, 2014, 10:15AM

When the world moves into a cycle of rising rates, newly issued bonds carry a higher rate than bonds previously issued.

A bond paying 4% for eg is obviously more valuable than a bond paying 2%, so as rates rise the value of the bonds previously issued has to fall to a level that allows it to produce the higher yield.

For the past few years of low rates there has been an overallocation to higher yielding equities because bond yields have been so low, but as the cycle reverts to normal (ie bond yields rise) there will be some money moved out of equities to bonds which become relatively more attractive.

This is a very simple explanation but hope it helps.

Commenter

pass the red

Location

Date and time

March 28, 2014, 10:42AM

re ed at 10.24.any thoughts on where the money should be spent especially "productivity boosting " projects?base load solar plants?massive aged care projects or aged communities to move older people into freeing up houses?medical innovation?

Commenter

smilingjack

Location

Date and time

March 28, 2014, 9:40AM

I'm actually in favour of selling off public assets to finance the building of more public assets. That creates jobs and boosts the economy. Whatever they decide to build it must be the type of asset that can in turn be sold off later to keep the infrastructure investment cycle rolling along. Roads are a bad choice. To those who decry selling off public assets to overseas buyers, provided it's not the type of asset that can be rolled up and taken away, hard to think what, then local laws can safeguard local consumers. Along the way we pickup an inflow of capital.

tgif.now now.yes good starters I suppose but Im trying to guess where the money will go.these will be very big projects.Badgerys creek now pops to mind. They will have to be projects that can return the investor a decent long term dividend.wont be trains or ports. newcastle cbd and airport / aerospace centre has been given the go ahead now waiting on tenders.maybe aerospace is the next big thing?there will have to be some kind or energy projects and the current distinct leaning is not for renewables. coal is dead and I cant see the public supporting nuclear.although in saying that if they are flogging off electricity lock stock and barrel whom ever buys it will want guarantees. like the brown coal plant in vic which would cost gazillions to shut down for contractual reasons.with all this infrastructure money floating about there are big ops to make a buck.

Commenter

smilingjack

Location

Date and time

March 28, 2014, 1:01PM

The world's real market makers are at the Hong Kong Rugby Sevens today until Sunday. Nothing of substance will happen until Tuesday at best.

Commenter

Pez

Location

Tanami Desert

Date and time

March 28, 2014, 9:34AM

my knees are hurting just thinking about the sevens. somebody pass me the ibuprofen.do you know if it is being broadcast somewhere free?.

Commenter

smilingjack

Location

Date and time

March 28, 2014, 10:36AM

Or doing their NRL/AFL SuperCoach teams!!

Commenter

Life Is Good

Location

The Real World

Date and time

March 28, 2014, 10:59AM

four mile ready to produce cheap uranium starting April I have been plugging AGS for a while, maybe time to get on board if you have not so already more than doubled over last few months, where from here???

Commenter

jock

Location

Date and time

March 28, 2014, 9:26AM

another mine bites the dust. ravensworth finished. unprofitable.governments both state and federal to flog anything that isnt bolted down and those that are will be unbolted.money to be used on infrastructure ( through PPP's of course ) which will then also be flogged off.within 5 years there will be nothing left. except maybe the national parks and they are working on that. go forward 5 years then what?

Commenter

smilingjack

Location

Date and time

March 28, 2014, 9:22AM

......"We are open for business"......

Is that what it's called?

Commenter

JohnBB

Location

Date and time

March 28, 2014, 9:37AM

Makes the MRRT seem like a real good idea...

Commenter

Wwwish Lion`

Location

Moes Bar - its Friday

Date and time

March 28, 2014, 9:57AM

The market was never going to stay above the red line today.....There's nothing to push it up. Been hovering around 5350 for a long time...Me thinks without something positive a big correction is coming.

Commenter

JohnBB

Location

Date and time

March 28, 2014, 9:22AM

Really John - can you feel it in your waters? I guess you'll be right someday. Can you please give us a date for this imminent economic collapse and then go away until then. You can then come back and start up with your 'told you so' posts.

Commenter

4Seam

Location

Date and time

March 28, 2014, 9:39AM

@4Seam...I said correction, not collapse....Mate, been trading a very long time...Did you miss my call on oil? Did you miss my call on silver and gold peaking? Did you miss my call on BOQ? Did you miss my many calls on in and out USD? Did you miss my call JBH 7% in one day? Don't be angry because you're "all in". I get some wrong but when I do I get out fast. I get a fair bit right too.

Commenter

JohnBB

Location

Date and time

March 28, 2014, 10:08AM

Wow, John, you must be on a real rollercoaster today. By my count that red line has been crossed 6 times already and it's only 11am.

Commenter

confused

Location

syd

Date and time

March 28, 2014, 10:08AM

........"Can you please give us a date for this imminent economic collapse"......

No I can't because it's impossible for me to know just how dumb the electorate is.

Commenter

JohnBB

Location

Date and time

March 28, 2014, 10:16AM

Well in 2034 when it happens you will be right....after oh so many years

@JohnBB : so to be clear, you are on this blog every single freakin day screeching about a collapse you see coming in 20 years time?

Commenter

confused

Location

syd

Date and time

March 28, 2014, 12:20PM

Thats ok then we can get on with it for the next twenty years

Commenter

Wwwish Lion

Location

Moes Bar - its Friday

Date and time

March 28, 2014, 12:30PM

@Wwish Lion...Of course we can...I'm trading..I don't think it's collapsing tomorrow but collapse it will never to recover.

@confused...Do you avoid asbestos, don't smoke? 20 years goes fast. You should consider the other people you love that in twenty years will be affected by the decisions we make today.

Commenter

JohnBB

Location

Date and time

March 28, 2014, 1:09PM

Whitehaven Coal is fast becoming Australia's most hated company.

First Nathan Tinkler makes a fool of himself with conspicuous consumption including jets and reacehorse.

Next the Obeid corruption scandal.

And now an attempt to destroy precious native flora and fauna.

Avoid.

Commenter

Allan

Location

Prahran

Date and time

March 28, 2014, 9:15AM

have you seen / read about the sugarloaf debacle?oops there is a hole in the bottom of the mine! lets fix it with thousands of tons of concrete. double oops!! and in a pristine old growth forest and wetlands!

Commenter

smilingjack

Location

Date and time

March 28, 2014, 9:33AM

Interesting comments, but respectfully disagree. I hold WHC at $1.50 and am confident in the long term future.

Commenter

ajay137

Location

Date and time

March 28, 2014, 9:38AM

Oh dear there is a relatively new person on the Blog that wants to use this as a forum to vent their spleen on everything including sliced bread ho hum! Please Eds place some limits on the length and number of articles per person per day.Cheers

Commenter

PDJ

Location

Down Under

Date and time

March 28, 2014, 9:11AM

Peter DJ? Really, is this how you spend your time?

Commenter

handbag

Location

Sydney

Date and time

March 28, 2014, 10:43AM

Discovery Metals in trading halt.....a long weekend for suffering shareholders. $1.70 a year ago now 0.029 !!Good news I hope

Commenter

Happy Hippy

Location

Date and time

March 28, 2014, 9:06AM

doing business in botswana. I wouldnt be hopeful. reminds me a scene from layer cake.when michael gambon is explaining the ins and outs of doing business in africa and mining after they were "done over". I think with a slight reference to margaret thatchers son being arrested.

Commenter

smilingjack

Location

Date and time

March 28, 2014, 9:28AM

When did all the comments become so politically charged? If you want to complain about political parties there are plenty of direct articles on the topic you can drop your comments on.

I agree! Come on Ed's ...this is a stock forum not a political one. Mitch of the Act (plus others) over run the site with there political bias.

Commenter

Happy Hippy

Location

Date and time

March 28, 2014, 9:16AM

100,000 jobs to go in manufacturing in coming years due to a gas drought on the east coast starting in 2016 when gas for export prices out gas for local consumption, according to a story on 7:30 report last night. This follows on from the expose by Michael West earlier of the demand by AGL for a 20% price rise in local gas prices. The gas for export should have come from CSG but not enough CSG is being produced so the excess demand for export will come from local gas supplies. What the 7:30 report showed is that local industries that use gas are closing down now and moving overseas as local gas prices are already rising. The solution is for the Federal gov't to step in and mandate a % of local gas to be withheld to ensure enough supply at reasonable prices. However given the record so far for the Abbott gov't in maintaining local jobs I have no hope that anything will happen and 100,000 people plus a further number in support roles will be added to the unemployment queue and the Budget deficit will just get larger from the dole payments and loss of tax revenue from wages and business profits. The profit from all that exported gas will probably get shifted offshore with minimal tax paid here.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 9:18AM

Its been a problem with this blog for a while. You just need to filter. I now tend to look at the writer before reading the comment and if it comes from one of the main offenders I don't bother reading it. Which is a pity because in amongst their partisan political diatribes they sometimes had relevant things to say also.

Commenter

Grinch

Location

Date and time

March 28, 2014, 9:19AM

Politics and the economy have 100% correlation. All Norwegians rich because of their politics. Australians going bankrupt.

Commenter

JohnBB

Location

Date and time

March 28, 2014, 9:31AM

@Mitch,,,,good comment ,our government,including the Senate,need to be more proactive when it comes to securing cheaper energy for our businesses and citizens,,,repealing the carbon tax would be a good start.

Commenter

Chumlee

Location

Date and time

March 28, 2014, 9:40AM

JohnBB please stop this norwegian thing. It is incorrect and you lose more credability everytime you mention it. How much per person do you think makes them rich?

Commenter

Wwwish Lion

Location

Moes Bar - its Friday

Date and time

March 28, 2014, 11:28AM

I don't mind the commentary when its related to "x happened to company due to y decision by govt". But I am tired of the tacked on Lib/ALP/Greens/Independents/Abbott/Julia/Rudd are a farce/don't know what they are doing/better when they were in power etc etc etc. Readers don't need the horse blinkered opinions on a popularity competition or a warped/one sided history lesson on local or geo-politics.

Commenter

DraftReader

Location

syd

Date and time

March 28, 2014, 11:37AM

@Wwwish Lion..."norwegian thing"....Why does it wind you up so much?.

It's not just the 128k PER PERSON and our negative 28k per person...(you don't think 156k gap for every single person is a lot of money?)....They live within their means and we don't...The gap will continue to grow until ours bursts and after having sold everything to facilitate it we won't recover.

Commenter

JohnBB

Location

Date and time

March 28, 2014, 12:35PM

Yes John, there is a gap...where did our gap come from? Labor. Thats part of the reason we booted them. 130k IS NOT RICH and you must have 130k around somewhere you are by self admission rich.,

Commenter

Wwwish Lion

Location

Moes Bar - its Friday

Date and time

March 28, 2014, 1:03PM

@Wwwish Lion...I left this for you right at the end of the other day..."BTW. I'm well off as far as my standards go...They may be different to yours. It's no lie I'm semi retired"....I'm very comfortable thanks and plan on moving OS within the next decade semi permanently.

I think you're missing the significance of EVERY PERSON...The country's rich...We're not.

A positive start for the asx200 today, the big miners brushing aside concerns. Even the banks shrugging off concerns. Now if you were a big Gold supporter you might have been better buying the new Gold stocks - inner city upmarket homes in the likes of London & Sydney dare I say it why not "Housing Boom". Oh and with higher energy prices what is that likely to do to building costs?Cheers

Commenter

Optimist

Location

Hi

Date and time

March 28, 2014, 8:59AM

For one hing we might have to start importing bricks when rising gas prices for our local brick kilns make them uneconomic to run.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 9:52AM

LNP......."We are open for business".....Don't let ACCC, FIRB, Dept. Fair Trading, tens of different ombudsman dissuade you. They are just puppets to appease a dumb electorate...Our overriding policy is... "We are open for business" .... Foreign companies; we encourage you to come and rip our mug citizens.

In fact, more than encourage, we've got a lot of stuff on sale atm, you can make a lot of money from selling back to the people that owned it...hahaha....This politics stuff is so simple.

Commenter

JohnBB

Location

Date and time

March 28, 2014, 8:53AM

@Gordon Akman...Don't twist what I said...200k is my share...How much could it cost? It's just IT. No warehouse, no handling of goods, no manufacturing, no transportation...Just raking in cash;lots and lots of cash. Their profit speaks volumes for what I'm saying doesn't it?

So how many percent can they charge before someone competes with them? Imagine if we had a government that made it easy for an Australian company to out compete a foreign one...Imagine.

Commenter

JohnBB

Location

Date and time

March 28, 2014, 8:51AM

@ JohnBB, what has the government or ACCC got to do with ebay?

They offer a service at a price. If you don't like it, don't use it. A poster gave you several cheaper alternatives recently. And if you think it's so easy to do what they do, then start a competitor.

That's how free enterprise works.

Commenter

pass the red

Location

Date and time

March 28, 2014, 10:03AM

@pass the red....Yeah...Guess who owns useless Gumtree?

I'd like my government to look after my fellow Australians interests and say to eBay, ......."we're sorry but your fees are outrageous, and we're not going to allow Australian consumers to be robbed in such a way".....It's not a free market. They operate from overseas with different wage structures, conditions, currency...I've already said, I'd put money into a genuine opposition. It's a gold mine for doing bugger all. That's my Q. Why isn't anyone doing it?

Commenter

JohnBB

Location

Date and time

March 28, 2014, 10:31AM

@pass the red....Yeah...Guess who owns Gumtree?

I'd like my government to look after my fellow Australians interests and say to, ......."we're sorry but your fees are outrageous, and we're not going to allow Australian consumers to be robbed in such a way".....It's not a free market. They operate from overseas with different wage structures, conditions, currency...I've already said, I'd put money into a genuine opposition. It's a gold mine. That's my Q. Why isn't anyone doing it?

Commenter

JohnBB

Location

Date and time

March 28, 2014, 11:01AM

@johnBB, you are kidding aren't you? The government should be telling a firm it's prices are too high?

Mate, consumers will work it out for themselves. If their prices are too high people won't use them. If people do, then it's clear that they are happy with the price/value/convenience trade off.

Commenter

pass the red

Location

Date and time

March 28, 2014, 11:07AM

@pass the red. I'm not kidding. It's not a free market as I've already described.

We use it because there are no other options. I want other options and I want my elected government to facilitate that. Make it too hard for an Australian company to refuse.

Commenter

JohnBB

Location

Date and time

March 28, 2014, 11:27AM

JohnBB, i told you a few times over the last month or so, quicksales.com.au is free and owned by careslaes.com.au you can buy there shares if you want.

Commenter

Wwwish Lion

Location

Moes Bar - its Friday

Date and time

March 28, 2014, 12:42PM

Yes thankyou Wwwish Lion..I have acknowledged and thanked you before. They're okay, not great...They should put some of those millions into competing properly with eBay before someone else comes and does it....There's no way it can go on as 10% fees without some conglomerate doing it...Carsales is another one many have pointed me to as a share to buy...They charge too much ($50 a sale?) and can therefore be competed with too easily. I.T just isn't that expensive to develop and run.

Commenter

JohnBB

Location

Date and time

March 28, 2014, 1:03PM

Turkey, who just a short time ago was seen as a standout of the emerging markets, an economy who would overtake Germany, has gone feral. If it wasn't in NATO it would be classified as a 'rogue state'.

The leaked video that caused the wannabe Sultan to ban youtube showed Turkey's leaders plotting to make up excuses to invade Syria.

(this comes after twitter was banned for there being evidence of government corruption being tweeted)

Imagine if a video emerged showing Iran's leaders plotting to make up excuses to attack Israel! Or for that matter, Russia making up excuses to send its troops to Kiev! Wouldn't America have a different attitude then!

The sooner Turkey gets rid of this mafia leadership and returns to a secular government, the better.

Commenter

Fred

Location

Date and time

March 28, 2014, 8:50AM

Of course, the fact of NATO member Turkey planning to bomb itself so that it can blame Assad and go to war against Syria is barely mentioned in our mute, unquestioning, compliant, subservient to the establishment, media.

Ironically, given all the gullible fools who think our glorious western media is free, RT once again gives us the facts more bluntly than any major western news agency. The video is there for all to see, but BBC, CNN and all the rest will not utter a peep.

Commenter

Fred

Location

Date and time

March 28, 2014, 9:56AM

The University of Oxford’s Stranded Assets Programme have predicted that China's coal consumption will peak in @ 10 years.

With major supply around the world coming online over that period, prices will be further depressed. Australia's high cost coal will be uneconomic before long.

No need to build the environmentally destructive Maules Creek mine which is set to destroy some of Australia's rarest woodlands, pollute underground water supplies and shrink the habitat of over 30 threatened species of wildlife.

Commenter

Allan

Location

Prahran

Date and time

March 28, 2014, 8:50AM

Goodbye to Abbot's Pointl? If only we could say goodbye to Abbott.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 9:06AM

Opposition to mining companies dredging and dumping in the GBR miss the most basic root of the problem..I did a search for the word "population" on earthhour's site and nothing re numbers of people being a problem...https://www.google.com.au/#q=population+site:http:%2F%2Fearthhour.org.au

How do they think a growing population are all living the high life? Seriously, as a scientist, how people don't connect every single environmental issue on horrific growth of and over population puzzles me so much ...It doesn't help the ridiculous, entirely confused "Greens" party have zero idea what they're talking about when it comes to environmental issues.

Two choices and two choices ONLY. 1. Let business and government do what ever it takes to keep a growing population in the way they're accustomed. 2. Stop population growth....There is no 3rd choice. Stop being ridiculous and educate yourselves a bit or even think stuff through hippies/greenies/inner city Green voters/earthhour famous-figure-heads. .....AFFLUENT GROWING POPULATION IS THE PROBLEM. It would appear all those that say "Australia's got so much room" haven't considered the majority of the issues hey....

Commenter

JohnBB

Location

Date and time

March 28, 2014, 8:48AM

As i've said all alone, the environmental problems are caused by there being too many monkeys on the planet. Invent an economic and political system that keeps the population stable and evenly spread across age groups and the problems will be magically solved. the end.

Commenter

J.

Location

Syd.

Date and time

March 28, 2014, 9:38AM

Editors: why did you comment at 9:10am: "Local stocks are poised for a weak start after Wall St eases overnight" when you added that the SPI is down only 4 points, S&P500 was down 0.2% and the Dow was flat?

How about commenting ore logically 'a flat start' ?

EDs: Hi Tony. Thought about "flat", went with "weak". Fair call, could have gone with the latter.

Commenter

Tony L

Location

Melbourne

Date and time

March 28, 2014, 8:39AM

You should have gone with 'flat' ;-) But thanks for being honest in posting my comment.

Commenter

Tony L

Location

Melbourne

Date and time

March 28, 2014, 9:32AM

Little (no) cash available for public servants wage increases, meanwhile Newman QLD helped himself to $70k increase - Age of entitlements are gone forever.

Commenter

Viking

Location

Sydney

Date and time

March 28, 2014, 8:33AM

You tell me how the average Minister could earn $300k in the real world based on qualifications and experience?

Not likely!

Commenter

Ox

Location

Kensi Pk

Date and time

March 28, 2014, 10:58AM

Looks like Senator Corman has come to his senses and halted the Fofa amendments, unlikely he will proceed in my view.

Commenter

Viking

Location

Sydney

Date and time

March 28, 2014, 8:30AM

The word is only until after the WA Senate re-run. Then the free-for-all for the spivs in the financial planning industry is back on.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 8:53AM

@Viking...Doesn't matter. It will still be used at election time (among any other astounding things) and the other idiots will be re-elected.

Commenter

JohnBB

Location

Date and time

March 28, 2014, 9:03AM

Another rainy day in syd today, coupled with it being a Friday probably means a down day today.

Commenter

DraftReader

Location

syd

Date and time

March 28, 2014, 8:24AM

Notwithstanding Paul Keating's famous quote, Sydney does not quite equal Australia. But it is a fine place and I agree it will be a down day for the markets.

Commenter

Yin or yang

Location

Date and time

March 28, 2014, 9:03AM

Alternatively you could have more small traders stuck inside at their keyboards pushing up prices when they think they see a bargain. From what I see a lot of trading is done by bots and they don't care what the weather's like.

Commenter

mitch of ACT

Location

Date and time

March 28, 2014, 9:25AM

It did stop raining around 11-12.

Commenter

DraftReader

Location

syd

Date and time

March 28, 2014, 12:05PM

More confidence people!

Its all good, just need the leveraged with inflated houses to tap more of that equity and go buy stuff they don't need.

That is all a modern economy needs to continue strong growth lol

Commenter

Opinion Only

Location

Melbourne

Date and time

March 28, 2014, 8:23AM

talk about the demise of property, as he whose stock picks of the week go down the elevator shaft *cough* SBM!

Commenter

change

Location

of tact

Date and time

March 28, 2014, 8:53AM

Indeed, the contemporary Western economic orthodoxy is to borrow more, spend more on consumer products, have fewer children, become more dependent on the government, etc. This is national, as well as economic, suicide.

Tony Blair in the UK actually admitted it. He said that he would not promote the interests of the worker or the business (as traditional government has done) but instead the interests of the consumer. This is madness. Unsustainable consumption puts us in debt and makes our currencies too overvalued at the expense of industrial producers.

The long term interest of the nation state should be to guarantee the capacity to produce and manufacture (especially high-technology), not the capacity to consume.

Commenter

Dr No

Location

Sydney

Date and time

March 28, 2014, 8:58AM

And for the umpteenth time SBM is a spec stock. It swings wildly. The last two closes netted 24% and 11%. Stop being childish and continually posting about SBM under a different screen name every day. Man up and take responsibility for your comments.

Commenter

Allan

Location

Prahran

Date and time

March 28, 2014, 9:08AM

@Opinion Only and Dr No....

There should be a bipartisan body that filters every policy to ensure it fits well with what the electorate thinks is a fair future to pass on. We need a dictator to sort this country out. Not an elected politician that took Australia's future to auction every election..."Vote for me, I'll give you more, no vote for me, I'll give you more"...

Commenter

JohnBB

Location

Date and time

March 28, 2014, 9:12AM

Yes a Dictator would be handy. Maybe one that has qualifications to run and build a country, like an Engineer with a business degree. Someone who was once a blue collar Tradie and has also served in the Military. Someone who is also young, not biased by religion and also not willing to be pushed around by the self interests of big business...Now where can we find someone like that. *Cough*

Commenter

Styx

Location

Date and time

March 28, 2014, 9:47AM

@Styx...Who is that person?

Commenter

JohnBB

Location

Date and time

March 28, 2014, 9:57AM

I'm looking for a new country to take to new heights. Where do I apply?

Commenter

Robert M

Location

Zimbabwe

Date and time

March 28, 2014, 10:12AM

I'm sure North Korea could find a spot for you JohnBB!

And it has little borrowing, almost no immigration and property prices are low. It sounds like your kind of heaven!!! :-)

Commenter

Life Is Good

Location

The Real World

Date and time

March 28, 2014, 11:08AM

@life is good. Ignorant bliss. It's going to have to happen anyway. Best we do it sooner than later.

Commenter

JohnBB

Location

Date and time

March 28, 2014, 11:30AM

Life is good! Excellent suggestion. It would give us all a break too.

Commenter

confused

Location

syd

Date and time

March 28, 2014, 12:08PM

lol that's right. somebody buys an investment property and then tries to off load it to another "investor" or victim at a higher price.

After that, the new person will then try to sell it to somebody else at a higher price.